Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in ING Group, N.V. (NYSE:ING)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in ING Group, N.V. (NYSE:ING) by 11.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,836 shares of the financial services provider’s stock after purchasing an additional 1,189 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in ING Group were worth $232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Advisors LLC purchased a new position in shares of ING Group in the 1st quarter valued at approximately $28,000. SBI Securities Co. Ltd. boosted its stake in shares of ING Group by 135.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock valued at $31,000 after buying an additional 912 shares in the last quarter. Redwood Investments LLC purchased a new stake in shares of ING Group in the fourth quarter valued at approximately $41,000. Olde Wealth Management LLC purchased a new stake in shares of ING Group in the first quarter valued at approximately $55,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of ING Group by 21.4% in the first quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider’s stock valued at $100,000 after buying an additional 897 shares in the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Group Stock Up 0.8%

ING Group stock opened at $24.97 on Friday. The stock’s 50 day moving average price is $22.51 and its 200 day moving average price is $20.26. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $78.57 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.78 and a beta of 1.14. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $24.98.

ING Group (NYSE:ING) last posted its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. On average, sell-side analysts predict that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be given a dividend of $0.4002 per share. This represents a yield of 450.0%. The ex-dividend date is Monday, August 11th. ING Group’s payout ratio is presently 31.80%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Cfra Research upgraded ING Group from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, May 6th. Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

ING Group Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.